For a whole life insurance policy issued to a life aged

Reference no: EM13376525

For a whole life insurance policy issued to a life aged exactly 30 has an increasing death benefit (sum insured/face amount). In the tth policy year, t = 1, 2, 3, ..., the face amount is $100, 000 · 1.03t-1. Using the SOA illustrative life table, with interest rate at 9.18% per year, calculate the expected present value of this benefit.

Reference no: EM13376525

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